Apple Receives Final Approval for its Campus 2, Agrees to Pay More in City Taxes
Apple recently received its final approval for its Apple Campus 2 project from the Cupertino City Council after gaining a unanimous initial approval back in October. Cupertino Mayor Orrin Mahoney said “We’re eager to see it happen. Go for it,” following the recent unanimous vote in favor of the project.
With this vote, the Cupertino City Council approved the necessary ordinances to allow Apple to enter into an official Development Agreement with the City of Cupertino, which will see the company to receiving its full set of building permits on November 20. Apple has already received ancillary permits allowing it to begin demolition of the former HP campus that is already on the site. As part of the final agreement, Apple has agreed to increase the amount of taxes it pays to the City of Cupertino, in the form of a reduction of the sales tax rebate that the company receives each year from the city. Last year, Cupertino refunded 50% of the sales tax it received from Apple-related purchases but in the future it will only refund 35% of sales taxes as a result of the agreement.
As of right now, Phase 1 of the Campus 2 construction will include a 2.8 million square foot ring-shaped main building with an underground parking facility capable of accommodating approximately 2,400 vehicles. Also included will be a 100,000 square foot fitness center and a 120,000 square foot auditorium. During the second phase of construction, Apple will build 600,000 square feet worth of office, research and development buildings along with additional parking and energy generation facilities.
For those of you who aren’t in the loop, Apple’s Campus 2 is designed to be environmentally friendly, incorporating 80% green space with 300 different species of trees, orchards and a central garden with outdoor dining areas. The facility will also use efficient water and landscaping in addition to garnering 70% of its energy from solar and fuel cells. The Cupertino California-based tech giant is to finish the first phase of the Apple Campus 2 construction by 2016.
Source: Los Angeles Times